Landstar System, Inc. (LSTR) To Go Ex-Dividend on May 19th

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Monday, April 27th. Investors of record on Tuesday, May 19th will be paid a dividend of 0.40 per share by the transportation company on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, May 19th.

Landstar System has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 10 years. Landstar System has a payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $7.04 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 22.7%.

Landstar System Trading Up 4.8%

Shares of Landstar System stock opened at $176.04 on Friday. The firm has a market capitalization of $5.97 billion, a PE ratio of 48.63 and a beta of 0.85. Landstar System has a twelve month low of $119.32 and a twelve month high of $195.84. The firm’s 50-day moving average price is $165.98 and its 200 day moving average price is $151.30. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. Landstar System’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. On average, sell-side analysts predict that Landstar System will post 5.55 EPS for the current fiscal year.

Landstar System declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.